Blog

If you borrow money from a commercial lender and the lender later cancels or forgives the debt, you may have to include the cancelled amount in income for tax purposes,…

As tax season nears the end it is important to understand the math behind Refunds and balance due. Form W4 is the key difference maker to both Refund and balance…

The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence…

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit…

A Roth IRA is an Individual Retirement Account that provides tax-free growth. As a result, it’s the simplest – and potentially the most effective – sheltered account imaginable. The Roth…

Back when it was the Education IRA, not too much (despite the lure of tax-free income). In 2002, however, the re-named Coverdell education savings account became a very attractive college…

Joseph Andrew Stack, 53, seem to have a big grudge with the Internal Revenue Service (IRS), enough to crash his plane, Piper Cherokee PA-28, into a building housing an IRS…

You may be able to contribute to a Coverdell Education Savings Account (ESA) to finance a beneficiary’s qualified education expenses if your modified adjusted gross income is below the established…

The American Recovery and Reinvestment Act permits taxpayers to take a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and…

Check Your WithholdingHow will the Making Work Pay tax credit affect you?Most wage earners will benefit from larger paychecks in 2009 and 2010 as a result of the changes made…